PDT Partners LLC Sells 134,461 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

PDT Partners LLC lessened its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 70.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,355 shares of the company's stock after selling 134,461 shares during the quarter. PDT Partners LLC's holdings in Frontier Communications Parent were worth $1,967,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FYBR. Dimensional Fund Advisors LP grew its holdings in shares of Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company's stock worth $211,758,000 after buying an additional 1,587,145 shares in the last quarter. Columbus Hill Capital Management L.P. increased its stake in Frontier Communications Parent by 345.7% during the 2nd quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company's stock worth $11,670,000 after acquiring an additional 345,744 shares during the period. Alpine Associates Management Inc. bought a new position in shares of Frontier Communications Parent in the 3rd quarter valued at $9,855,000. Marshall Wace LLP boosted its holdings in shares of Frontier Communications Parent by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 420,227 shares of the company's stock valued at $11,002,000 after acquiring an additional 139,215 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Frontier Communications Parent by 106.9% during the 3rd quarter. Citigroup Inc. now owns 239,893 shares of the company's stock valued at $8,523,000 after acquiring an additional 123,939 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FYBR. Benchmark reissued a "buy" rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research note on Thursday, September 5th. JPMorgan Chase & Co. downgraded Frontier Communications Parent from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $35.00 to $38.50 in a research note on Tuesday, September 17th. Wells Fargo & Company restated an "equal weight" rating and set a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Raymond James cut shares of Frontier Communications Parent from a "strong-buy" rating to a "market perform" rating in a report on Monday, October 28th. Finally, BNP Paribas raised Frontier Communications Parent to a "hold" rating in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $35.31.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the transaction, the executive vice president now directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company's stock.

Frontier Communications Parent Trading Up 0.1 %

Shares of Frontier Communications Parent stock traded up $0.03 during mid-day trading on Friday, hitting $34.81. 1,002,354 shares of the stock were exchanged, compared to its average volume of 3,622,435. The company has a 50-day simple moving average of $35.29 and a 200 day simple moving average of $30.66. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a twelve month low of $20.51 and a twelve month high of $39.21. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of -46.41 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm posted $0.05 EPS. The firm's quarterly revenue was up 3.7% on a year-over-year basis. Research analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

About Frontier Communications Parent

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.